Arizona § 44-1031 - Effect of assignment for the benefit of creditors; acknowledgment and recording; invalidity of assignments not made in accordance with this article
Full text of Arizona Arizona Revised Statutes § 44-1031 — Effect of assignment for the benefit of creditors; acknowledgment and recording; invalidity of assignments not made in accordance with this article, with citation guidance and answers to common questions.
§ 44-1031. Effect of assignment for the benefit of creditors; acknowledgment and recording; invalidity of assignments not made in accordance with this article
A. Every assignment made by an insolvent debtor, or in contemplation of insolvency, for the benefit of his creditors, shall provide, except as otherwise provided in this article, for a distribution of all his real and personal property other than that which is by law exempt from execution, among all his creditors in proportion to their respective claims. However the assignment is made or expressed, it shall have such effect and shall be construed to pass all such property, whether or not specified therein.
B. Every assignment for the benefit of creditors shall be acknowledged and recorded in the manner provided by law for conveyances of real or other property.
C. Assignments for the benefit of creditors under the common law are declared contrary to the public policy of the state and are abolished, and all assignments for the benefit of creditors are void and of no force and effect unless made in accordance with the provisions of this article.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 44-1031
What does Arizona Revised Statutes § 44-1031 cover?
Section 44-1031 ("Effect of assignment for the benefit of creditors; acknowledgment and recording; invalidity of assignments not made in accordance with this article") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 44-1031?
A common citation format is "Arizona Revised Statutes § 44-1031" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 44-1031 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.